We are excited to announce that OKX will enable margin trading and savings products for CELO and GALA, alongside the listing of their USDT-margined perpetual swaps. These new features will go live at 10:00 am UTC on September 24.
Both the web platform and mobile app, as well as API trading, will support these updates. This expansion provides traders with more flexibility and opportunities to engage with these popular digital assets.
Supported Trading Pairs and Features
Margin Trading and Savings
Spot margin trading will be available for the following pairs:
- CELO/USDT
- GALA/USDT
This allows users to borrow funds and trade with leverage, potentially amplifying both gains and losses.
For detailed information on tiered margin ratios and borrowing limits, users can refer to the official margin borrowing documentation after the launch.
The savings product will also support these assets, offering users a way to earn interest on their holdings. Specific limits and rules for the savings feature will be outlined in the official business rules upon release.
Perpetual Swap Contracts
OKX is introducing USDT-margined perpetual swap contracts for both CELO and GALA.
CELO/USDT Perpetual Swap Details:
| Feature | Details |
|---|---|
| Underlying Index | CELO/USDT |
| Settlement Asset | USDT |
| Contract Face Value | 1 CELO |
| Price Quotation | USDT value of 1 CELO |
| Tick Size | 0.0001 |
| Leverage | 0.01x to 75x |
| Funding Rate | Calculated based on the index price premium; clamp function with -0.75% to 0.75% range |
| Trading Hours | 24/7 |
GALA/USDT Perpetual Swap Details:
| Feature | Details |
|---|---|
| Underlying Index | GALA/USDT |
| Settlement Asset | USDT |
| Contract Face Value | 10 GALA |
| Price Quotation | USDT value of 1 GALA |
| Tick Size | 0.00001 |
| Leverage | 0.01x to 75x |
| Trading Hours | 24/7 |
Important Notes on Funding Rates
Due to the potential for premium instability immediately after a new contract launches, a special funding rate cap will be in effect. Before 4:00 pm UTC on September 24, the upper limit for the funding rate will be temporarily set at 0.03% to protect users from unreasonable charges.
After this time, the predicted funding rate cap will return to the standard maximum of 0.75%. The first funding fee under the normal regime will be charged at 8:00 am UTC on September 25.
The price limit rules for these new CELO and GALA perpetual swaps are consistent with those for other cryptocurrencies on the OKX platform. For a comprehensive understanding of how perpetual swap trading works, including order types and risk management, it is highly recommended to 👉 review the complete trading guide.
Understanding the Risks and Opportunities
Adding leverage through margin trading or perpetual swaps can significantly increase profit potential, but it also magnifies risk. The volatile nature of digital assets like CELO and GALA means that prices can change rapidly, leading to substantial losses that may exceed your initial investment.
It is crucial to have a solid risk management strategy in place. This includes using stop-loss orders, understanding how funding rates work, and never investing more than you can afford to lose.
Frequently Asked Questions
What time do CELO and GALA margin trading and perpetual swaps go live?
All new features for CELO and GALA, including margin trading, savings, and perpetual swaps, will be enabled at 10:00 am UTC on September 24. The platform's API will also support these updates at the same time.
What is the temporary funding rate cap for the new perpetual swaps?
To ensure stability at launch, the funding rate upper limit is set at a reduced 0.03% until 4:00 pm UTC on September 24. After this time, it reverts to the standard 0.75% cap.
How can I learn more about trading with leverage on OKX?
The platform provides extensive educational resources on its website. To get started with advanced trading products, 👉 explore the detailed user guides that cover everything from the basics to sophisticated strategies.
Are the savings products for CELO and GALA available immediately?
Yes, the savings feature for these assets will be available at the same time as margin trading. However, specific interest rates and deposit limits will be detailed in the official savings rules upon launch.
What should I do if I am new to perpetual swap trading?
If you are unfamiliar with derivatives trading, it is highly advised to start with a demo account, thoroughly research how perpetual contracts work, and begin with very small positions to understand the mechanics of leverage and funding fees.
Who should I contact if I have problems?
For any issues or inquiries regarding these new listings, users can seek assistance through the official OKX support center. All promotional and external community links have been removed from this article as per our content guidelines.
Risk Warning: Trading digital assets and using leveraged products involves a high level of risk. The possibility exists that you could sustain a loss of some or all of your invested capital. You should carefully consider whether such trading is appropriate for you in light of your financial condition, investment objectives, and risk tolerance. Seek independent financial advice if necessary.